Strategic Planning Steps

1. (1) Look at competitive advantage you are trying to achieve and the end result of developing
   and obtaining a strategic direction
2. (2) Folding the strategic vision into the purpose of why the company exists
3. (3) Trying to visualize the future. What do you want the business to look like 4-5 years in the future?
4. • Direction
5. • Business activities to be pursued
6. • Capabilities
7. (4) Look at company’s strengths and weaknesses
8. • What do you do best
9. • Company resources, assets, intellectual capital, people
10. • What is happening externally that impacts the company
11. • What are important markets
12. • More global aspects that might impact company-i.e. unemployment, economy
13. • Competition
14. (5) Objectives and goals
15. • Objectives set the strategic direction
16. • Goals that are measurable over a year time frame that help obtain the strategic direction
17. (6) Assess Resources
18. • Time and money
19. • Do implementing objectives make financial sense
20. • Are resources in place to eventually meet strategic directions
21. (7) Implementing tactics to achieve goals that drive strategic direction decisions
1. • Assigning tasks to responsible people—staff buy in to strategic direction
2. • Keep score on how well you’re doing
22. (8) Holding management accountable to achieve strategic results
1. • Holding people assigned specific tasks responsible